New Delhi | In one of the major banking fraud cases shaking the country’s financial system, the Central Bureau of Investigation (CBI) has filed its first chargesheet against 15 accused in a ₹1,000 crore multi-state scam. The case involves alleged large-scale siphoning and diversion of funds from various accounts of Haryana government departments, raising serious concerns over banking security and financial oversight mechanisms.
According to the investigating agency, the 15 accused include six bank officials allegedly associated with IDFC FIRST Bank and AU Small Finance Bank. The chargesheet also names three government employees from Haryana, two shell companies along with their three partners/directors, and one private individual.
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The CBI stated that the scam came to light between February and March 2026, when irregularities were detected in bank accounts of several Haryana government departments. These accounts were maintained in branches of IDFC FIRST Bank, AU Small Finance Bank, and Kotak Mahindra Bank in and around the Chandigarh region.
Investigations have revealed that the network allegedly operated through a coordinated nexus involving bank officials, government employees, and private entities. It is alleged that fraudulent transactions and forged documents were systematically created to facilitate the diversion of funds. The money was reportedly routed through multiple shell companies and layered transactions to conceal its origin and destination.
The charges mentioned in the chargesheet include criminal conspiracy, criminal breach of trust, cheating, forgery, destruction of evidence, and offences under the Prevention of Corruption Act, 1988. The CBI confirmed that all 15 accused have already been arrested and are currently in judicial custody.
The agency further stated that this chargesheet marks the completion of the first phase of investigation against the accused for whom sufficient evidence has been collected. The probe into other aspects of the case is still ongoing, and further arrests or supplementary chargesheets cannot be ruled out.
The exposure of the scam has also raised concerns about the integrity of financial systems and internal banking controls. Experts believe that such large-scale diversion of government funds indicates serious gaps in monitoring and compliance mechanisms within banking operations.
The CBI has assured that the investigation is continuing in full depth, and more revelations are expected in the coming days. The case is being considered one of the biggest banking frauds in recent years, involving indications of organised financial crime operating at multiple levels.
